The last two years have changed the global business landscape beyond recognition. Of course, technology and software solutions were being utilized before the pandemic, but enforced change has expedited the digital transformation. According to some sources, the advancement and adoption of new technology and software solutions we have witnessed would have taken seven years had it not been for the pandemic. So, what does this mean for labor markets and technical talent as we emerge from lockdown and discover the new normal?
Changing Consumer Demands
Global lockdown was always apt to change the way that consumers interacted with brands. Combined with the fact that people had time on their hands and were desperate to fill it, companies were forced to change the way they operate to navigate their own way through the pandemic and meet consumer demand.
The leap in digital interactions with customers from the outset of the pandemic is evident in this chart. North America saw an increase of more than 20% with Europe not far behind. But the desire to connect with brands online shows no signs of dropping off despite the world starting to reopen. Customer expectations have changed, and corporate mentality must adapt to reflect that.
Indeed, companies are now three times more likely to see 80% of their customer interactions online than they were pre-Covid.
This new way of operating has changed the way we work. Across all industries there is an appreciation for what can be achieved by remote workers and distributed teams. Digital solutions enable organizations to serve consumers in a more convenient way and meet changing demands.
A New Way of Corporate Thinking
Enforced change often results in new ways of working that had previously been resisted or deemed a bridge too far.
62% of organizations now say they expect customer expectations to remain the same. More than half see remote working and cloud technology as the future. The corporate mindset is changing.
Perhaps more significant is that, throughout the pandemic, those organizations that had already embraced technological advancements performed best.
61% of organizations who had already adopted digital transformations, and accelerated their program during Covid-19, saw revenues increase by up to 25%. A further 24% who adopted an increased focus on digital saw similar results. Those that decelerated their timeline or faced large change in direction didn’t enjoy anything like the same results.
So, we know that embracing technology sets up those forward-thinking companies to cope with (and thrive) during a global pandemic and beyond. And we know that organizations are expecting the digital transformation to shape the future of work. Business and technology leaders who are still reluctant to embrace new solutions and remote working need to be very clear in their minds exactly what their strategy is. Because they are bucking the trend and taking a risk that the new consumer mindset of demanding accessibility, speed, efficiency and convenience will fade.
Spoiler alert – it won’t fade. Consumer expectations have changed for good. And this new consumer mindset demands a new corporate mindset.
Internal Operations Are Changing Too
But it’s not just external operations that are undergoing a digital transformation. There is also an upsurge in demand for software solutions that drive efficiency and improvements in:
• Back office
• Research & development
Supply chain solutions are also being sought as business leaders look to take advantage of technological advancements in all aspects of business. That’s because what started as short term solutions to get through a global pandemic has become a strategy of long-term change.
Having invested in tech and seen the benefits that the vast range of software solutions can bring, it makes sense for companies to continue with those aspects of crisis-management that can make a difference going forward.
One such change is the shift to remote working and distributed teams. Just under 25% of respondents in a recent survey carried out by McKinsey & Company, said the digital transformation has led to a decrease in their physical footprint. Not only is this expected to cut costs, but it also opens up opportunities to access top global talent as geographical location ceases to be a barrier to employment opportunities.
Those companies that have been most successful in navigating the pandemic and adopting new technologies – and are therefore better prepared for the future – are those who seized the digital opportunities first. They were the ones that were first to try out new technologies and saw the net gains in investing in digital as a means of making improvements to the way they work in addition to meeting changing consumer demands.
Digital and Corporate Strategies Are Now Aligned
For too long, many companies experienced disharmony between their corporate and digital strategies. The reasons for this varied in different organizations and sectors, but the crux of the problem across the board was that the two were treated as individual and separate issues. Enforced reliance on digital solutions has changed that. The most successful and forward-thinking companies now view their corporate and digital goals in tandem.
Digital solutions and remote teams, once viewed by some as a ‘nice idea’ with the possibility of cost savings, are now seen as a way of driving a company forward, keeping up with the competition and gaining a competitive advantage.
This radical change in mindset has seen the dawn of a new age in the way companies seek the best digital solutions to help them achieve their business goals. Waiting for software developments to arrive is no longer an option for businesses who want to get ahead. They must actively seek out software developers who can create the solutions they require. And that’s where remote working comes into its own.
Outstaffing enables companies to access the skills of the best software engineers from around the world in a reliable and long term manner as opposed to outsourcing where technical teams jump from project to project without full engagement and dedication. Dedicated engineers that work directly with technical leadership and are essentially a remote extension of the team are focused on providing bespoke solutions that allow business leaders to align their corporate and digital goals so the two enhance and complement each other.
About the Company
Agile Fuel recruits and supports dedicated remote engineers, software developers, QA specialists, UI/UX designers and other key technical team players for clients all across the globe. Based in Ukraine, distributed teams are dedicated to providing solutions to their clients’ needs. Agile Fuel is a stack-agnostic agency that focuses on finding the right people according to the specific requirements of each client. By taking care of recruiting and HR, Agile Fuel enables its clients to focus on their core business while leveraging the skills of top talent in software solutions. Get in touch today to find out how Agile Fuel can help you.